J & Friends Holdings Ltd · Internet and software services

JF

Elevated riskNext report: Not enough history

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The short version

A company still losing money with shrinking sales, with elevated risk.

Watch out for

Share count growing 24.7% a year (dilution)
Losing money, losses are large next to sales
Debt above equity: 1.21x

Money moves

No insider buying or selling in the last 30 days
Institutions added 11% to their holdings in the quarter ending June 2026 (5 bought, 7 sold)

Facts from SEC filings, not a recommendation.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

2/6Weak

MissDebt under half of equityNot relying on borrowed money.1.21x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-82.9%
MissProfitable every yearSteady profits, not one good year.1 of 8 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$146K
MissShare count not growingNot diluting owners. Falling means buybacks.+93.9% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.71.5%

Revenue: $1.6M; -66.8% vs prior year
5-year growth: -51.2%/yr; revenue, per year
Total debt: $1.8M; 1.21x equity
Current ratio: 1.25x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+. A checklist is a starting point for research, not a verdict.

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 0.0
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+10.7%

Institutions added 10.7% to their holdings. 5 bought, 7 sold. 2 quarters of net buying in a row.

Shares held by institutions195K

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+24.7%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

1.2x · $1.8M debt

Shares outstandingLatest reported

582M

Why elevated risk

Losing money, losses are large next to sales
Share count growing 24.7% a year (dilution)
Debt above equity: 1.21x
Revenue down 66.8% from the year before

Earnings reports

Last 0

Next reportNot enough history

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

EFFECTMay 8 · Form EFFECT ↗6-KMay 7 · Form 6-K ↗CORRESPMay 6 · Form CORRESP ↗UPLOADMay 4 · Form UPLOAD ↗F-3Apr 27 · Form F-3 ↗20-FApr 24 · Form 20-F ↗New insiderApr 21 · Form 3 ↗New insiderApr 7 · Form 3 ↗New insiderMar 18 · Form 3 ↗New insiderMar 17 · Form 3 ↗New insiderMar 17 · Form 3 ↗New insiderMar 16 · Form 3 ↗New insiderMar 16 · Form 3 ↗6-KJan 15 · Form 6-K ↗6-KJan 9 · Form 6-K ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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